Send Money to Bank Account Using Debit Card and Credit Card (Hindi)
My debit card was hacked.
Fraudsters stole my debit card visit web page my credit union eventually concluded they swiped the card information by planting a gas pump skimmer at a station I frequented.
link bad guys used my card information to make fraudulent purchases.
Instead, they approved the fraudulent transactions and allowed the money to be debited from my checking account.
Only then did I discover that the money which was supposed to be in my checking account was missing.
I called my credit union immediately to report the problem.
I expected for the stolen money to be put back in my account right away.
Instead, the credit union representative told me they needed time to investigate the fraud.
They would cut off my debit card and issue me a new one so no additional theft could take place.
While that happened, however, it could take a week or more before I saw any money returned to my account.
The next big problem?
Thankfully, my husband and I had money in savings.
We used that money to pay the bills while our checking account sat empty during the investigation.
It was an eye opening experience for us.
Why I never use debit are debit cards and credit cards money After a few days, the credit union did put the stolen money back into our checking account.
Other than the initial shock and the hassle of moving some money from savings to checking, we came through the situation no worse for the wear.
Yet I knew the outcome could have been a lot different if the thieves had stolen more money from our account.
What if our savings account balance had also been wiped out by thieves?
Our account, after all, was set up to withdraw money from savings if the checking account is ever empty.
What if the credit union had taken longer to reimburse us for the stolen funds?
We could have faced late fees from our creditors and possibly even credit damage if we were unable to pay our bills during the fraud investigation.
When I can, I try to avoid using my debit card even then.
Legal fraud protections Since this experience, my husband and I choose to use credit cards for our purchases.
The available are are debit cards and credit cards money a lot more robust than those available for debit cards.
I learned this lesson the hard texas tea slot machine download />Had I used what are the best slots in nfl fantasy team credit card to pay for gas at that compromised pump all those years ago, my credit card account would almost certainly have been hacked.
The lies not in their ability to be compromised.
The electronic funds transfer act When your debit card number is stolen, like mine was, federal law protects you from liability for most of the fraudulent charges.
The name of the law that gives you these protections is the Electronic Funds Transfer Act EFTA.
Do this, and you have zero liability for unauthorized transactions.
If you make this mistake, your financial institution may hold you 100 percent responsible for unauthorized transactions.
I reported the fraud to my credit union as soon as I found out about it, before my next statement was even generated.
However, the EFTA says your bank or credit union can take up to 10 business days to investigate the fraud and it can ask you to send a written confirmation of an error within 10 days after you report the fraud verbally.
Once more than 60 days have passed after your statement is sent out, you could be personally on the hook for 100 percent of any unauthorized transactions.
The Fair Credit Billing Act FCBA Your credit card issuers also have rules to follow when it comes to fraud.
The Fair Credit Billing Act FCBA is a federal law which protects you if your credit card is overcharged, billed for merchandise you never receive, or — you guessed it — used without your permission.
And again, the FTC recommends for you to send a billing dispute in writing.
The bottom line Hands down, credit cards offer more robust protection when it comes to fraud.
When you add in the fact that credit cards give us so many other perks, like price protection and the ability to earn lucrative rewards, the choice between debit cards and credit cards is really a no-brainer.
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Why Are Credit Cards Bad? I Never Pay Interest And They Make Me Money.
Credit cards work in the exact same manner as this loan. If you buy the game using a credit card, the credit card company will pay the shopkeeper today and you will have an obligation to pay the credit card company when your credit card bill comes in. This obligation to the credit card company does not represent money.
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